Spain's power giant plans huge expansion

15th November 2004, Comments 0 comments

15 November 2004, MADRID.- Endesa, Spain's largest power company, is to expand with a EUR 3.3 billion (USD 3.96 bn) investment plan in 2005, an increase of 13.8 percent compared to this year.

15 November 2004

MADRID.- Endesa, Spain's largest power company, is to expand with a EUR 3.3 billion (USD 3.96 bn) investment plan in 2005, an increase of 13.8 percent compared to this year.

By region, Endesa plans to invest some EUR 2.4 bn (USD 2.88 bn) in Spain and Portugal, EUR 400m (USD 480m) in Italy and France, and EUR 500m (USD 600m) in Latin America.

In Spain and Portugal, Endesa plans to invest in new generating capacity, renewable energy sources and power grids.

The Spanish company expects to invest in expanding generating capacity in Italy and renewable energy operations in other European markets.

Endesa said it would spend EUR 100m (some USD120m) in 2005 on new generating capacity in Latin America.

The company said it expected to invest EUR 14.6bn  (USD 17.52 bn) between 2005 and 2009, a rise of  11 percent from projected investment outlays in the 2004-2008 period.

During the 2005-2009 period, some 71 percent of investment will go into Spain and Portugal, 12 percent to the rest of Europe and 17 percent to Latin America.

In Latin America, projected investment of  EUR 2.5 bn (USD 3 bn) during the period will be divided among Chile (32 percent), Argentina (24 percent), Brazil (24 percent), Peru (12 percent) and Colombia (8 percent).

[Copyright EFE with Expatica]

Subject: Spanish news

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